K-pop quintet donate 200 million won to aid victims of Hong Kong's deadliest fire SEOUL, November 28 (AJP) - K-pop group (G)I-DLE donated money to support victims of Hong Kong's deadliest fire earlier this week. The multinational quintet with Chinese member Yuqi donated 200 million won (approximately US$136,000) to support emergency relief efforts for those affected by the fire, the Shanghai-based nonprofit Fosun Foundation said on Friday. The donation comes a few days after Yuqi posted a message on social media expressing her hope for everyone's safety. As of early Friday morning, 94 people were dead, 76 injured, and many others still missing after a fire broke out at a large housing complex in Tai Po, northern Hong Kong on Wednesday. Seven of the complex's eight buildings were affected, with flames spreading to adjacent blocks. About 900 residents have been evacuated to temporary shelters at nearby schools, and more than 1,250 firefighters have been mobilized to extinguish the blaze and carry out search and rescue operations. Donations continue to pour in to help victims, with other K-pop groups such as aespa and RIIZE also joining in. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-28 15:26:48

Seoul apartment transactions surge in October ahead of new housing curbs SEOUL, November 28 (AJP) - Apartment sales in Seoul saw a dramatic jump in October, fueled by a wave of last-minute purchases ahead of sweeping government real-estate curbs, official data and policy documents show. Nationally, housing transactions — including apartments and other types of residences — reached 69,718 last month, up 10 percent from September and 23.2 percent from a year earlier, according to the October housing statistics from the Ministry of Land, Infrastructure and Transport. According to analysts, this frenzied pace was driven by apprehension over newly announced curbs. On Oct. 15, the government unveiled its most aggressive housing regulation package yet: all 25 districts of Seoul and 12 municipalities in the surrounding Gyeonggi Province were designated as regulated zones. In the capital region, transactions surged. The Seoul metropolitan area recorded 39,644 deals — a 26.7 percent rise from September and 58.5 percent increase compared with October 2024. Within that, the city of Seoul alone logged 15,531 transactions, up 41.3 percent month-on-month and 116.8 percent year-on-year. By contrast, outside the metropolitan region non-metro areas saw a decline: transactions fell 6.2 percent from September and 4.7 percent from the same month last year. On the apartment market, the trend was even more pronounced: nationwide apartment sales reached 56,363 — up 13.5 percent from the prior month and 31.3 percent from a year earlier. Apartment transactions in Seoul soared by 62.5 percent month-on-month and an extraordinary 176 percent year-on-year. In the broader metropolitan zone, apartment deals rose 35.5 percent from September and 79.4 percent compared with last October. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-28 08:33:36

2.2-magnitude earthquake shakes Wanju in southern South Korea SEOUL, November 27 (AJP) - A magnitude 2.2 earthquake struck near Wanju in southern South Korea, prompting several residents to report feeling tremors in the area. According to fire authorities, the earthquake occurred at around 8:06 p.m. on Wednesday, 6 kilometers southeast of Wanju in North Jeolla Province. The epicenter was located at 35.89 degrees north latitude and 127.23 degrees east longitude, with a depth of 5 kilometers. Tremors, accompanied by a loud noise, were observed in nearby areas like Jeonju and Iksan, but no structural damage or injuries were reported. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 11:26:50

Fire at Hallym University forces hundreds of students to evacuate in Chuncheon SEOUL, November 27 (AJP) - Hundreds of students were evacuated overnight after a fire broke out at a university in Chuncheon, Gangwon Province, in the early hours of Thursday. The fire occurred at around 1:27 a.m. on the fourth floor of a dormitory at Hallym University. Fire alarms sounded, prompting 346 students to evacuate, and no injuries were reported. The blaze damaged part of the building including two electrical panels before being extinguished in about 20 minutes. Police and fire authorities are investigating the exact cause of the fire. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 09:23:11

National Assembly set to vote on arrest motion for PPP's former floor leader SEOUL, November 27 (AJP) - The National Assembly is set to decide on whether to pass the arrest motion for Choo Kyung-ho, the main opposition People Power Party (PPP)'s former floor leader over his alleged involvement in former President Yoon Suk Yeol's martial law debacle in December last year. Choo has been accused of interfering with parliamentary efforts to lift the martial law declared by Yoon on Dec. 3. The motion, initiated by independent prosecutors investigating the debacle, requires a majority of lawmakers present to pass. With the Democratic Party holding a majority, it is likely to be passed. If passed, a court will proceed with a hearing to determine whether to issue an arrest warrant for him. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 09:06:03

Delinquencies on Korea's mom-and-pop business loans hit highest level since 2015 SEOUL, November 27 (AJP) - Delinquencies on loans to South Korea’s mom-and-pop businesses rose to their highest level in more than nine years in the third quarter, even as the banking sector’s overall nonperforming loan (NPL) ratio edged down, the Financial Supervisory Service (FSS) said on Thursday. The NPL rate for personal business loans climbed 0.02 percentage points from the previous quarter to 0.61 percent, the highest since June 2015. The FSS attributed the rise to a weak economic environment and higher borrowing costs, which have placed growing pressure on small self-employed borrowers. Across the banking sector, the overall NPL ratio stood at 0.57 percent in September, down 0.02 percentage points from the previous quarter but up 0.04 percentage points from a year earlier. Total NPLs amounted to 16.4 trillion won, a decline of 2 trillion won from June. Corporate loans made up 13.1 trillion won of the total, household loans 3 trillion won, and credit card loans 300 billion won. Banks generated 5.5 trillion won in new NPLs during the July–September period, down 900 billion won from the previous quarter but up 400 billion won from a year earlier. Household loan defaults remained at 1.4 trillion won, while corporate loan defaults fell by 1 trillion won to 3.9 trillion won. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 08:43:38

Online sexual violence on the rise among teenagers, report finds SEOUL, November 26 (AJP) - Nearly 30 percent of teenagers have experienced sexual violence over the past three years, according to a report released by the Korea Sexual Violence Relief Center (KSVRC) on Wednesday. Based on an analysis of reported cases from 2022 to 2024, the report found that there were 14,146 cases in 2022, 15,542 in 2023, and 14,874 in 2024. Among them, cases involving those under 19 increased from 27.6 percent in 2022 to 28.6 percent in 2024. The report also revealed a concerning rise in the number of offenders under 19. Juvenile offenders increased from 1,962 in 2022 to 2,042 in 2023 and 2,069 in 2024, accounting for approximately 13 percent of all offenders last year. "Online spaces have become an integral part of many children's lives these days, leading to a rise in digital sexual violence," the center said. "Cases of online grooming, where perpetrators demand photos or videos and then use them for threats or illegal distribution, are on the rise. Many victims remain unaware of their exposure for extended periods," it added. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-26 16:57:11

South Korea to transfer retired submarine to Poland as part of naval cooperation SEOUL, November 26 (AJP) - South Korea will transfer the decommissioned Jang Bogo submarine to Poland at no cost by the end of this year, according to multiple military sources. The donated submarine would give Poland a stop-gap training platform for submarine crews, enabling familiarization with submarine operations and maintenance ahead of the next-generation vessels. The submarine represented the Republic of Korea Navy’s first generation of post-Cold War submarines. In the South Korean fleet it was commissioned in the mid-1990s after being built — the first boat launched in 1991 and entering service in 1994. The move is intended to support South Korean companies aiming to take part in Poland’s ongoing submarine acquisition program, the Orka Project. According to South Korean shipbuilder Hanwha Ocean — one of the firms bidding for the Orka contract — the donation helps strengthen its bid by offering Poland an interim capability and smoother transition. Poland’s Orka Project aims to acquire three new 3,000-ton submarines to modernize its undersea fleet. Competing bidders reportedly include Hanwha Ocean from South Korea, Germany’s ThyssenKrupp Marine Systems, Italy’s Fincantieri, and Sweden’s Saab. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-26 08:54:34

South Korea performs third-best in Q3 real GDP growth in OECD scale SEOUL, November 26 (AJP) -SEOUL, November 26 (AJP) - The South Korean economy performed third-best among 26 economies of the Organization for Economic Cooperation and Development (OECD) in the third quarter, according to preliminary compiling by OECD, the Bank of Korea said Wednesday. Korea’s real GDP grew 1.166 percent in the July–September period, ranking third out of 26 countries that had released preliminary estimates, Israel topped the list with 2.967 percent growth, driven largely by a sharp rebound from a –1.1 percent contraction in the second quarter. Indonesia, continuing its streak of robust expansion, placed second at 1.216 percent. China recorded 1.1 percent growth, performing behind Korea’s quarterly rate for the first time in more than three years — since the second quarter of 2022. Korea’s third-quarter performance marks a dramatic turnaround from earlier this year. In the first quarter, GDP fell –0.219 percent, weighed down by weak consumer sentiment following the national emergency decree, placing Korea 34th among 37 economies. The economy rebounded in the second quarter, expanding 0.675 percent on the back of strong exports despite cross-tariff shocks from the United States, lifting Korea’s ranking to 10th. The Bank of Korea is expected to raise its 2025 growth outlook in its revised economic forecast on Thursday. Jungwoo Park, economist at Nomura Securities, in its recent report observed rising equity and housing prices are generating a wealth effect that will help revive consumption. “Growth next year is likely to outpace Korea’s potential growth rate (of around 1.8 percent),” he said. He perceived that the Bank of Korea’s rate-cutting cycle is effectively over. “We expect the BOK to support the government’s expansionary fiscal stance and keep the policy rate unchanged at 2.50 percent through the end of next year,” he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-26 07:26:00

Seoul, Ankara agree to strengthen cooperation in defense, nuclear energy SEOUL, November 25 (AJP) - President Lee Jae Myung met with Turkish President Recep Tayyip Erdoğan in Ankara on Monday, where the two leaders agreed to enhance cooperation across various sectors. In a joint press conference after their talks, Lee began his remarks by saying that this year marks the 75th anniversary of Turkey's participation in the Korean War (1950–1953), referring to the country as a "brother nation." He added, "Bilateral relations have strengthened rapidly since the two countries established diplomatic relations in 1957." Citing Turkey's program to develop and produce its indigenous battle tank, Altay, Lee said, "We agreed to continue cooperating on defense-related projects to expand joint production, technological cooperation, and training exchanges." He pledged support for Turkey's project to build a nuclear power plant in Sinop, saying, "South Korea's advanced nuclear technology will contribute significantly to the project." Lee also expressed his hopes to expand cooperation in advanced high-tech sectors including renewable energy, artificial intelligence (AI), and digital technologies. After wrapping up his brief stop in Turkey, the final leg of his 10-day overseas trip, Lee is scheduled to return home on Wednesday. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 09:43:10